Chinese official appointed NDB VP and CAO

Zhou Qiangwu, a Chinese official, was appointed one of the vice-presidents of the New Development Bank on Wednesday, according to the bank's website, and he will also serve as the bank's chief administrative officer.

Most recently, he served as a director-general level official in the Department of International Economic and Financial Cooperation in the Ministry of Finance of China, while holding the positions of deputy in the International Development Association and council member for China in the Global Environment Facility.

Prior to that, Zhou was director-general of the International Economic and Financial Institute, MOF's leading think tank on international economics and development, for eight years. He was also assigned to work in the UN's Administrative and Budgetary Committee, representing the government of China from 1999 to 2002, and served as advisor and then senior advisor to the Executive Director for China in the World Bank Group from 2008 to 2011.

Along with his appointment, Vladimir Kazbekov will serve as vice-president and chief operating officer, while Leslie Maasdorp will serve as vice-president and chief financial officer.

Established in 2015, the New Development Bank is the result of financial cooperation between the BRICS countries. It aims to support infrastructure construction and sustainable development in emerging markets and developing countries.